"For the record-setting Phantom, Lik employed a new tactic, putting the word out to his most prolific collectors that his latest work would be one-of-a-kind. The $6.5 million sale was widely reported, but the backlash was swift, both against the photo's artistic value and the validity of the astronomical price tag. As the Times points out, the sale was both private and anonymous, so 'it's hard to know what's official about it.'"

Read more on how photography Peter Lik 'manages' his pricing schemes, here.